FM Announces Income Tax Relief Amid Covid-19; ITR Filing Deadline For FY19 Extended

To extend relief to most people due to the current coronavirus -led lockdown across the country, FM announces relief on income tax related compliance.

FM Announces Income Tax Relief Amid Covid-19; ITR Filing For FY19 Extended

-The last date for filing return for FY 2018-19 will now stand extended to June 30, 2020. Interest rate for delayed payment has been also cut from 12% to 9%.

- Interest rate for delayed deposit in TDS will now be slashed for FY 2018-19 from 18% to 19%.

-Aadhaar, PAN linking extended to June 30,2020, Previously the linking was to be done by March 31, 2020

-Vivad Se Vishwas scheme has been extended to June 30, 2020 plus the additional charge of 10% has been withdrawn that would have otherwise applied from April1, 2020 to June.

- Other dates for income tax notices, filings have been extended to June 30, 2020.

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